凤凰网科技讯 北京时间6月9日，据《金融时报》报道，英国首相斯塔默周一承诺将再投入10亿英镑， 以提升英国的AI算力。不过，英伟达CEO黄仁勋(Jensen Huang)警告称，英国缺乏利用其AI潜力所需的 数字基础设施。 周一，黄仁勋与与斯塔默一同出席了"伦敦科技周"开幕式。黄仁勋称赞英国在AI行业所处的位置"恰到 好处"：既拥有"了不起"的AI研究人才，又是除美国和中国之外全球私人AI投资规模最大的国家。 "英国的AI生态系统已经具备了腾飞的一切条件，"黄仁勋表示，"它只缺少一样东西。令人惊讶的是： 这是全球最大的AI生态系统(之一)，但却没有自己的基础设施。" 就在黄仁勋做出这一表态前不久，斯塔默宣布将"大幅提升英国AI引擎规模和算力"，承诺追加10亿英镑 资金，以"将英国的算力提升20倍"。 周一，英伟达宣布将在布里斯托设立一个新的AI技术中心，用于培训开发者构建AI模型、机器人技术 及其他相关技能。此外，英伟达还将与英国本土企业共同成立一个名为"英国主权AI产业论坛"的新组 织，成员包括英国宇航系统公司、英国电信以及渣打银行，以推动AI的加速普及。此外，英伟达还正 在与英国金融行为监管局以及金融科技 ...

Core Insights - Hon Hai's chairman Liu Yangwei stated that electric vehicles will be the third growth engine for the company, following information communication (ICT) and AI products, with expectations for 2025 revenue to exceed NT$7 trillion [1] - The company aims to maintain its leading position in the ICT sector, with a global electronic manufacturing market share of 44.2% in 2024, and an AI server market share exceeding 40% [1] - Hon Hai's revenue from consumer smart products has grown by 20% over the past five years, while cloud network products have seen a 60% increase [1] Group 1 - Hon Hai plans to accelerate edge computing applications in AI, which is seen as the second growth engine, contributing significantly to revenue through AI servers and three major smart platforms [1][2] - The company is establishing a data-related industrial chain in multiple countries and integrating AI into corporate governance, focusing on generative AI (GAI) as the core of its software platforms [2] - Hon Hai aims to become one of the top three contract design and manufacturing service (CDMS) providers for electric vehicles, with ongoing discussions with multiple Japanese automakers [2] Group 2 - The company showcased several electric vehicles at the shareholder meeting and reported "exciting progress" in collaboration with Mitsubishi Motors, indicating recognition from traditional automakers [2] - Hon Hai's AI server revenue is projected to exceed NT$1 trillion annually, leveraging a digital twin model to enhance factory planning and operational efficiency [2] - The company is actively pursuing the U.S. market for its electric vehicles, with plans to launch a U.S. version of Model C in the fourth quarter, while monitoring tariff implications [2]

Core Viewpoint - Hon Hai (Foxconn) is positioning electric vehicles as its third growth engine, alongside ICT and AI products, with expectations for significant revenue growth in the coming years [1][2] Group 1: Company Growth and Market Position - Hon Hai anticipates that its revenue will exceed NT$7 trillion by 2025, marking a new high [1] - The company holds a 44.2% market share in global electronic manufacturing services, making it the industry leader, with one in every two ICT products manufactured by Hon Hai [1] - In the AI server market, Hon Hai has over 40% market share, also leading globally [1] - Revenue from consumer smart products has grown by 20% over the past five years, while cloud networking products have seen a 60% increase [1] Group 2: AI and Digital Transformation - Hon Hai plans to accelerate edge computing applications and develop AI as its second growth engine, focusing on AI servers and three major smart platforms [1][2] - The company aims for annual revenue from AI servers to exceed NT$1 trillion, establishing itself as a major player in the AI sector [2] - Hon Hai is implementing a digital twin model to enhance factory operations, improving efficiency and speed in production [2] Group 3: Electric Vehicle Strategy - Hon Hai is collaborating with Mitsubishi Motors, indicating recognition from traditional automakers and boosting confidence in achieving its goals [2] - The company aims to become one of the top three contract design and manufacturing service (CDMS) providers for electric vehicles globally, integrating hardware and software design [2] - Hon Hai is in discussions with additional Japanese automakers and plans to introduce an American version of its Model C in Q4, while monitoring tariffs to determine the launch pace [2]

Core Viewpoint - NVIDIA's CEO Jensen Huang expressed concern over the H20 export restrictions impacting the company's access to the Chinese AI market, which is valued at $50 billion, while highlighting the robust demand for AI processing capabilities driven by the Blackwell chip production [1][8][45]. Group 1: Financial Performance and Market Impact - NVIDIA's Q1 revenue reached $44 billion, a 69% year-over-year increase, despite the challenges posed by export restrictions [25]. - The company anticipates a loss of $8 billion in H20 revenue due to new export limitations, significantly affecting future business prospects in the Chinese market [8][43]. - The data center revenue grew by 73% year-over-year, driven by the rapid ramp-up of the Blackwell product line [5][27]. Group 2: AI Demand and Technological Advancements - There is an explosive growth in AI inference demand, with token generation increasing by 500% year-over-year, particularly in complex AI workloads [12][29]. - The Blackwell architecture is designed to support this demand, offering a throughput that is 40 times higher than the previous Hopper architecture [12][10]. - The average deployment rate for major hyperscale customers is nearly 1,000 NVL72 racks per week, indicating strong market adoption [10][28]. Group 3: Strategic Insights on AI Market - Huang emphasized that winning the Chinese AI market is crucial for global leadership, as it houses half of the world's AI researchers [3][45]. - The company is exploring options to create attractive solutions for the Chinese market in light of the export restrictions [8][46]. - The rise of open-source AI models like DeepSeek and Qwen is seen as a strategic advantage for the U.S. in maintaining its leadership in AI technology [13][46]. Group 4: Future Outlook and Growth Engines - NVIDIA is optimistic about future growth, citing multiple key growth engines including surging inference demand, sovereign AI initiatives, and enterprise AI [19][49]. - The company plans to achieve $45 billion in revenue for Q2, with expected gross margins of 71.8% [20][43]. - The establishment of AI factories globally is seen as a foundational step in building the necessary infrastructure for AI deployment across industries [15][62].

Financial Performance - Nvidia reported Q1 FY2026 revenue of $44.062 billion, a 69% year-over-year increase [1] - Net profit reached $18.775 billion, up 26% year-over-year [1] - Earnings per share (EPS) was $0.76, reflecting a 27% increase year-over-year [1] - Data center business, driven by AI chips and related products, saw a 73% revenue increase, accounting for 88% of total revenue [1] Impact of Export Controls - U.S. export controls on chips significantly impacted Nvidia's performance, leading to a $4.5 billion inventory write-down and an estimated loss of $2.5 billion in potential sales [1] - An additional loss of approximately $8 billion is expected in Q2 due to these restrictions [1] - The Chinese market, valued at around $50 billion, is now largely inaccessible to U.S. companies due to the H20 chip export ban [3][12] AI Market Dynamics - China is a major player in the global AI market, with half of the world's AI researchers located there [3] - The inability to deploy Hopper architecture products in China limits Nvidia's market share and growth potential in this region [3][12] - The competition in AI is not just about chips but also about who leads the entire technology stack [4] Domestic Manufacturing Initiatives - Nvidia supports the vision of bringing advanced manufacturing back to the U.S., with significant investments in local chip production facilities [7] - Partnerships with companies like TSMC and Foxconn are underway to establish AI supercomputer manufacturing plants in the U.S. [7] AI Infrastructure and Development - The company emphasizes the importance of AI as a foundational infrastructure that will transform various industries [12][14] - New enterprise AI products are being launched to support local developers and businesses, indicating a shift towards internal AI deployment [14] - The future of AI infrastructure is expected to include AI factories within manufacturing plants, enhancing operational efficiency [14]

Core Insights - Nvidia reported record revenue of $44.1 billion for Q1 FY2026, despite a slowdown in growth, with a year-over-year increase of 69% [1][2] - The company faces significant challenges in the Chinese market, estimating a potential loss of up to $50 billion due to export restrictions on its H20 product line [1][2] - CEO Jensen Huang expressed optimism about the demand for inference AI, sovereign AI infrastructure, enterprise AI agents, and industrial AI opportunities [1][7] Financial Performance - Nvidia's Q1 revenue of $44.1 billion represents a 12% increase from the previous quarter and a 69% increase year-over-year [2] - Net profit for the quarter reached $18.775 billion, a year-over-year growth of approximately 26% [2] - The company incurred a $4.5 billion charge due to excess inventory and procurement issues related to U.S. government restrictions [2] Market Impact - The share of revenue from the Chinese data center market has dropped to single digits, with further declines expected [2] - Nvidia's gross margin for Q1 was 61%, which would have been 71.3% without the $4.5 billion charge [2] - The company is exploring limited compliance options to continue offering data center products that meet U.S. export control requirements [3] Product Development - Nvidia is preparing to launch a new AI chip for the Chinese market, the RTX Pro6000D, priced between $6,500 and $8,000, which is lower than the H20 [4] - The company is transitioning from the Hopper to the Blackwell architecture, with Blackwell GPUs contributing nearly 70% of data center revenue in the quarter [5] - The new GB300 GPU system is expected to start mass production later this quarter, featuring a 50% increase in HBM and enhanced performance for inference tasks [6] Strategic Initiatives - Nvidia is focusing on sovereign AI as a key market, with ongoing projects in Saudi Arabia and the UAE to establish AI infrastructure [7] - The company is collaborating with TSMC for chip manufacturing in Arizona and with Foxconn for supercomputer production in the U.S. [7] - The enterprise AI market is rapidly expanding, with Nvidia's end-to-end solutions gaining traction across various industries [8] Industrial AI Growth - Nearly 100 AI factories powered by Nvidia are currently under construction, representing a year-over-year increase of 200% [8] - The deployment of AI systems in factories is accelerating, with each factory now equipped with double the number of GPUs compared to the previous year [8] - Nvidia's full-stack architecture is becoming the foundation for AI factory deployments among leading companies globally [9]

Group 1 - The U.S. government's further restrictive measures are negatively impacting the global semiconductor industry and AI ecosystem, creating better opportunities for China's AI ecosystem to expand internationally [1][3] - Nvidia reported a loss of up to $8 billion due to U.S. restrictions on selling H20 chips to China, highlighting the financial repercussions of these policies [1] - The semiconductor equipment company ASML has seen its market value drop by over $130 billion in the past year due to fears of tariffs imposed by the U.S. government [1] Group 2 - Gartner's semiconductor industry analyst believes that China's AI ecosystem is currently the most developed outside of the U.S., as other countries seek alternatives to U.S. technology amid concerns over safety and reliability [3] - China's AI chip development is still in its early stages, with current domestic chips unable to meet the vast market demand, but the infrastructure for AI is well-established [4] - The Chinese government has set a 20% annual growth target for the semiconductor industry since 2014, leading to significant advancements that will meet future AI and advanced manufacturing needs [4] Group 3 - The concept of "AI traffic" is crucial for the development of AI, as it parallels the early days of the internet, where increased traffic drives demand for AI chips and further investment in infrastructure [4]

Core Viewpoint - NVIDIA's FY26Q1 revenue reached $44.062 billion, representing a year-over-year increase of 69.18% and a quarter-over-quarter increase of 12.03%, exceeding guidance expectations [1][10] Group 1: Financial Performance - FY26Q1 revenue of $44.062 billion surpassed guidance of $43 billion, with a non-GAAP gross margin of 61% and a margin of 71.3% after excluding H20-related expenses [1][10] - The company incurred $4.5 billion in expenses due to H20 product inventory surplus and procurement obligations, which was lower than expected due to the reuse of some materials [1][11] - FY26Q2 revenue guidance is set at $45 billion, reflecting an expected loss of approximately $8 billion in H20 revenue [4][24] Group 2: Business Segments - Data Center revenue reached $39 billion, up 73% year-over-year and 10% quarter-over-quarter, driven by demand for AI applications [3][10] - Gaming and AI PC revenue hit a record $3.8 billion, up 42% year-over-year and 48% quarter-over-quarter, primarily due to Blackwell architecture products [2][18] - Professional Visualization revenue was $509 million, up 19% year-over-year, while Automotive revenue was $567 million, up 72% year-over-year [3][20] Group 3: Market Dynamics - The Chinese AI chip market is estimated at $50 billion, but the H20 export ban has significantly impacted NVIDIA's operations in China [5][25] - The introduction of the GB200 NVL architecture is expected to support large-scale workloads and reduce inference costs [5][12] - The company is expanding its manufacturing capabilities in the U.S., with TSMC building six fabs in Arizona and partnerships with Foxconn for AI supercomputer production [5][28] Group 4: Future Outlook - The company anticipates a recovery in gross margin to 75% by the end of the year, driven by improved profitability from Blackwell products [4][24] - The AI industry is expected to experience exponential growth, with significant demand for inference AI driving the need for increased computational power [40][36] - The company is well-positioned to capitalize on the growing AI infrastructure investments globally, with a focus on local deployments and integration with existing IT systems [32][40]

Financial Data and Key Metrics Changes - NVIDIA reported revenue of $44 billion, a 69% year-over-year increase, exceeding expectations despite a challenging operating environment [6] - Data center revenue reached $39 billion, growing 73% year-on-year [6] - GAAP gross margins were 60.561%, while non-GAAP gross margins would have been 71.3% excluding a $4.5 billion charge related to inventory write-downs [31][33] Business Line Data and Key Metrics Changes - Data center revenue was significantly impacted by new export controls, with $4.6 billion recognized prior to the controls and a $4.5 billion charge for inventory write-downs [7][31] - Gaming revenue reached a record $3.8 billion, increasing 48% sequentially and 42% year-on-year, driven by strong adoption of Blackwell architecture [22][23] - Pro Visualization revenue was flat sequentially at $5.9 billion but up 19% year-on-year [26] - Automotive revenue was $567 million, down 1% sequentially but up 72% year-on-year, driven by self-driving technology and demand for new energy vehicles [28] Market Data and Key Metrics Changes - China data center revenue was slightly below expectations due to export licensing controls, with a meaningful decrease anticipated in Q2 [21][22] - Singapore represented nearly 20% of Q1 build revenue, primarily for US-based customers [22] Company Strategy and Development Direction - NVIDIA is focusing on AI infrastructure, with plans to build AI factories globally, emphasizing the importance of AI in various industries [14][62] - The company is committed to a multi-year product roadmap extending through 2028, with a focus on enhancing AI capabilities and infrastructure [11][12] - NVIDIA is exploring limited options to supply data center products compliant with new export control rules, acknowledging the competitive landscape in AI [9][38] Management's Comments on Operating Environment and Future Outlook - Management expressed concerns about losing access to the China AI accelerator market, which could have a material adverse impact on business [9] - The company anticipates continued ramp-up of Blackwell products, partially offset by declines in China revenue, with total revenue expected to be around $45 billion in Q2 [32][33] - Management highlighted the exponential growth in reasoning AI and its implications for future demand and infrastructure needs [62][84] Other Important Information - NVIDIA returned a record $14.3 billion to shareholders through share repurchases and dividends [32] - The company is actively investing in onshore manufacturing and partnerships to strengthen its supply chain [45][46] Q&A Session Summary Question: How much of the inference demand is NVIDIA able to serve? - Jensen Huang stated that NVIDIA aims to serve all inference demand and is on track to do so, highlighting the capabilities of the Grace Blackwell NVLink 72 for reasoning AI [53][54] Question: What is the impact of China on revenue guidance? - Colette Kress clarified that the company recognized $4.6 billion in H20 revenue in Q1 and expects a significant decline in China data center revenue in Q2 due to export controls [60][61] Question: What are the drivers of growth for the AI infrastructure? - Jensen Huang identified four positive surprises driving growth: increased demand for reasoning AI, the rescinding of the AI diffusion rule, the rise of enterprise AI, and the emergence of industrial AI [82][84] Question: Are there more large GPU cluster investments expected? - Jensen Huang confirmed that there are more orders than previously discussed and that many AI factories are being planned globally, indicating a strong future demand for AI infrastructure [70][72] Question: What is the outlook for the networking business? - Jensen Huang highlighted the success of Spectrum X and its adoption among major CSPs, emphasizing the importance of low latency and high performance in AI networking solutions [100]

继5月稍早陪同美国总统特朗普前往中东宣布大单之后，后续还将宣布许多决定。 英伟达CEO黄仁勋：我下周将前往欧洲。 所有国家都需要主权AI，我保证将让供应链保持繁忙状态。 ...